Banca Leonardo takes
BS Private Equity stake

By

Vivek Ahuja

Updated May 23, 2008 12:01 a.m. ET

Gruppo Banca Leonardo, the boutique investment bank started two years ago by Italian banker Gerardo Braggiotti, has taken a 20% stake in Italian midmarket private-equity firm BS Private Equity, with an option to buy the rest.

Leonardo's move precedes the start of BS's fifth private-equity fund, which aims to raise &euro;600 million ($947 million) and will be the company's first to be open to Italian investors. Leonardo didn't...